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Updated over 17 years ago,
LLC, company, or going personal.
Goal: to own some profitable multi-families. If I buy one, I may also get it out there to flip and generate cash, as thats the main goal. Maybe even a realty/investment company of some sort.
Area: MA
Me: have a 500k house owe 300k on it, been here for 2 years.
Pocket cash: zero. (obviously can pull cash from house but thats not pocket)Job cash goes to life.
I will be buying an investment house sooner or later, what I'm wondering is since I want this as a sort of side job/investment, should I create an LLC? Or some form of legal corp are there benefits, taxes etc....
Is it better to just remortgage my home for a down payment and get the rental?
In theory I like the LLC stance as it allows me to create an investment property business, and I assume better tax loopholes as I rent and flip etc..
Thanks In Advance for educated opinions.